Gono’s successor at RBZ to be announced

Harare Bureau
Finance and Economic Development Minister Patrick Chinamasa presents the 2013/14 National Budget statement on Thursday amid growing speculation on who the next Reserve Bank Governor will be.Dr Gideon Gono ended the second of his five-year terms in November this year and the nation awaits President Mugabe’s appointment of a successor.

A number of names have been thrown around in discussions among members of the public who are keen to know who Minister Chinamasa will work with in providing direction to Zimbabwe’s economic affairs for the next five years.

It has been reported that Dr Gono attempted to have his time at the helm of the apex bank extended by at least a year, but Government is said to have declined the request arguing that a law could not be changed to suit the plans of an individual.

And with memories still fresh about the tumultuous and sometimes hope-filled period Zimbabwe went through during the ex-Governor’s term of office, there is a lot of interest on who will take over the reins.

The interest is further fueled by the fact that the country has embarked on an ambitious development strategy for 2013-2018 called the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim-Asset). Getting the right mix of fiscal and monetary policies will be important to the successful implementation of Zim-Asset.

A handful of names have been thrown around as likely candidates to take over stewardship of the bank, with CBZ Holdings chief executive Dr John Mangudya thought to lead the race and Mr Andrew Bvumbe from the Finance and Economic Development Ministry also counting among the frontrunners.

Dr Mangudya has been CEO and executive director of CBZ Holdings since 2012.  However, a good number of people who some might describe as rank outsiders are also in with a shot and could make the leap to head the country’s top banking job.

These include former RBZ Deputy Governor Mr Edward Mashiringwane, Kingdom Holdings founder Mr Nigel Chanakira and Barbican Bank founder Dr Mthuli Ncube.